Income Tax terms starting with C

3 terms

1. Citizen or Resident Test Assuming all other dependency tests are met, the citizen or resident test allows taxpayers to claim a dependency exemption for persons who are U.S.
2. Commission A portion of the policy premium that is paid to an insurance producer (agent) by the insurance company as compensation for the producer’s work.
3. compulsory payroll tax An automatic tax collected from employers and employees to finance specific programs.